Chrysler LLC Clarifies Daimler AG's Third Quarter 2008
Earnings

AUBURN HILLS, Mich., October 23, 2008: Today, Daimler AG reported a net
loss of euro 351 million for its 19.9 percent share of Chrysler Holding
LLC's second quarter 2008 results under International Financial Reporting
Standards (IFRS). On a U.S. GAAP basis, Daimler AG's net loss for Chrysler
Holding LLC was euro 88 million, of which a euro 76 million net loss is
attributable to the automotive business of Chrysler LLC.

The difference between the loss of euro 351 million reported by Daimler
AG related to its 19.9 percent interest in Chrysler Holding LLC and the
euro 88 million of net losses is attributable to the following:

Adjustments for differences between U.S. GAAP and IFRS accounting
standards which equate to approximately a euro 171 million loss;

Other Daimler AG adjustments not related to Chrysler Holding LLC
results totaling approximately a euro 92 million loss.

Chrysler Holding LLC is comprised of Chrysler LLC, the automotive
company which manufactures and sells Chrysler, Dodge and Jeep(R) vehicles
worldwide, and Chrysler Financial which provides financial services for
these vehicles in the North American region.

Additionally, in response to the continuing global economic slowdown and
auto industry contraction, as well as the market's continuing movement
toward smaller vehicles, Chrysler LLC is announcing the elimination of one
shift of production at its Toledo (Ohio) North Assembly Plant and the
pull-ahead of the closure of the Newark (Delaware) Assembly Plant. The
schedule change will adjust inventory to better match consumer demand.

"The markets are facing unprecedented turmoil and we are in a time of
historic change in the auto industry," said Frank Ewasyshyn, Executive Vice
President - Manufacturing, Chrysler LLC. "These tough, but necessary steps
are vital to our long-term viability. However, these headwinds will not
prevent Chrysler from aggressively pursuing its mission to respond to
consumers with products they demand, like the all-new Dodge Ram, which was
recently named 'Full-Size Pickup Truck of Texas'."

The shift reduction at Toledo North will be effective December 31, 2008,
and will affect approximately 825 jobs. The closure of the Newark plant
will also be effective December 31, 2008, and will affect approximately
1,000 jobs.

Chrysler is committed to working with the UAW to address the represented
manpower reductions in a socially responsible manner. As the Company has
done in the past, the UAW and management leadership will hold employee
meetings to review special programs that will be offered at the affected
locations.

Currently, the Toledo North Assembly Plant has approximately 2,100
employees and operates on two shifts, producing Dodge Nitro and Jeep
Liberty. Employees are represented by UAW Local 12.

The Newark Assembly Plant builds Dodge Durango and Chrysler Aspen and
has been operating on one shift since July 2006. Its idling was first
announced in February 2007. Newark Assembly Plant currently has
approximately 1,000 employees who are represented by UAW Locals 1183 and
1212.